Trade deficit declines by €350 mln in 2018 compared to last year

Trade deficit declined by almost €350 mln in 2018, compared to 2017, according to data released today by the Statistical Service of the Republic of Cyprus. The reduction is attributed to the rise of exports by almost €1.26 bln

In particular, the trade deficit was €4,897 mln in January-December 2018 compared to €5,247.8 mln in the corresponding period of 2017.

Total imports in January-December 2018 amounted to €9,160.6 mln as compared to €8,216.2 mln in January-December 2017.

Total exports (covering total exports to third countries and to EU Member States) in January-December 2018 were €4.263,6 mn compared to €2.968,4 mn in January-December 2017.

According to the Statistical Service, total exports of domestically produced goods, excluding stores and provisions, in January – December 2018 were €1,561.7 mln compared to €1,226.6 mln in January – December 2017.

Total domestic exports of industrial products in January – December 2018 were €1,449.6 mln compared to €1,107.5 mln in January – December 2017.

Total domestic exports of agricultural products in January – December 2018 were €92.2 mln compared to €99.1 mln in January – December 2017.